UOB Kay Hian expects lower fuel hedging losses for SIA, but it still sees more losses from the airline group's subsidiaries. It stresses the pace at which yields fall might portend a larger concern for SIA.

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Singapore

PASSENGER numbers remain a key indicator that will lift third-quarter net profits for Singapore's groundhandler SATS but weaken earnings at its national carrier Singapore Airlines, says UOB Kay Hian in a Tuesday note.